Recently, Harness, an AI-driven software delivery platform, announced the completion of a $240 million Series E funding round led by Goldman Sachs. This funding includes $200 million from Goldman Sachs' alternative investment division and $40 million in stock buybacks from IVP, Menlo Ventures, and Unusual Ventures, with the company's valuation reaching $5.5 billion after the funding.

This funding will focus on supporting the development of Harness AI, which aims to optimize the software delivery process by eliminating bottlenecks in the later stages of coding. Harness is able to transform software delivery workflows into an intelligent system through the integration of specialized agents, context awareness, and reliable orchestration technologies, enabling it to learn and adapt to the needs of engineering teams.

Jyoti Bansal, co-founder and CEO of Harness, said: "The next frontier in AI in software engineering is applying intelligence to the delivery process, testing, validation, deployment, governance, and everything that happens after code is written." According to him, the AI is built on three core layers, aiming to transform the software development lifecycle through intelligent approaches.

Specialized AI agents can simplify tasks across various stages of delivery, testing, validation, security, governance, and operations, eliminating the need for manual work. Additionally, the software delivery knowledge graph can map code changes, services, deployments, tests, environments, events, policies, and cost information, ensuring the AI's accuracy and reliability align with each customer's architecture. Finally, the enterprise-level orchestration engine can effectively convert AI-driven insights into consistent automated processes, ensuring secure and predictable decision-making.

Beat Cabiallavetta, a partner at Goldman Sachs' alternative investment division, said: "Harness' unified platform combining AI, context, governance, and security is gaining favor among design engineering systems organizations. Harness is helping shape the future of software delivery."

The company revealed that Harness expects to exceed $250 million in annual recurring revenue by 2025, with a growth rate exceeding 50%. In the past year, the company has facilitated 128 million builds, protected 12 trillion API calls, and optimized $1.9 billion in cloud spending for its customers.

Key Points:

- 💰 Harness raised $240 million in funding, with a valuation of $5.5 billion.

- 🤖 Harness AI aims to eliminate bottlenecks in the software delivery process after coding.

- 📈 Expected to achieve over $250 million in annual recurring revenue by 2025, with a growth rate exceeding 50%